Alembic revenue up 8 per cent at Rs 722 crore

Chennai, May 22 (UNI) Alembic Limited, the pharmaceutical major, today reported a rise of eight per cent in revenues to Rs 721.83 crore for the year ended 31st March 2007 as compared to Rs 665.92 crore in the previous year.

The company's PAT was down 10 per cent to Rs 70.68 crore from Rs 78.52 crore, a company release here said.

The company incurred a non-recurring expense of Rs 17.59 crore towards VRS (Rs 7.82 crore) and settlement of ONGC dues for both pre and post 1987 disputes (Rs 9.77 crore).

In January 2007 the company had announced acquisition of Non-Oncology domestic formulation business of Dabur Pharma Ltd.

The financial results of the acquisition would get reflected in the company's result from April one 2007, the release added.